Do Entrepreneurs in Akwa Ibom State Practice Succession Planning?

Abstract:

There is little evidence to show that Nigerian leading Organizations undertake Succession Planning. Extant literature has pointed out that failure to practice succession planning leads to failure to take advantage of the diversity that Nigeria has, as almost all recent public appointments are disputed and sometimes end in court. More disturbing is that the growth of Nigerian Institutions remain abysmal as lack of succession planning reduces the scope for leadership development and planning, leading to problems of business continuity and growth. Hence, this study seeks to examine if entrepreneurs in Akwa Ibom State practice succession planning and the type of succession planning they practice. Using a purposive sampling method, 129 Employees of selected organizations were examined. Findings reveal that entrepreneurs in Akwa Ibom State, do some extent practice succession and that majority of them practice more of internal succession plan using a feedback system, active learning, job assignments, performance review, coaching, mentoring and training among others to enable employees take over key vacant positions in the firm.